[TechUkraine news] Glovo acquires Ukrainian grocery delivery service Zakaz.ua

Glovo acquires Ukrainian grocery delivery service Zakaz.ua. The companies didn’t disclose the acquisition cost, but according to experts’ estimates, the price didn’t exceed $50 million.
  • The deal was reportedly signed on Jan. 21.
  • Spanish tech giant Glovo paid the founders of the Ukrainian company in shares and cash.
  • According to Ain, Glovo paid owners of the Ukrainian startup in shares and cash. Zakaz.ua’s main shareholder Chernovetskyi Investment Group (CIG), reportedly, got 20% in cash and 80% in shares.
  • According to Chernovetskyi, Zakaz.ua was expected to receive nearly $130 million in revenue in 2021. The same year, Glovo earned over $900 million. In January 2022, German firm Delivery Hero acquired 80% of Glovo’s shares valuing the company at $2,6 billion.
  • Zakaz.ua delivers food from supermarkets in Ukraine, Moldova and Uzbekistan, while Glovo operates in nearly 25 countries.
  • According to the Liga.tech, Zakaz.ua refuted the deal.